ENGAGE MINDTAP a Search this course ule 5 Homework Assignment: Module 5 Homework Assignment Score: 75.00% Save Submit Assignment for Grading Questions Problem 11.11 (Capital Budgeting Criteria: + Question 16 of 20 Mutually Exclusive Projects) 14. Check My Work (3 remaining) 15. 0 0 0 16. eBook 17. 18. Project S requires an initial outlay at t = 0 of $12,000, and its expected cash flows would be $5,000 per year for 5 years. Mutually exclusive Project L requires an initial outlay at t = 0 of $41,500, and its expected cash flows would be $10,600 per year for 5 years. If both projects have a WACC of 14%, which project would you recommend? 19. 20. Select the correct answer. O a. Project S, since the NPVS > NPVL. O b. Both Projects S and L, since both projects have NPV's > 0. O c. Project L, since the NPVL > NPVS. O d. Both Projects S and L, since both projects have IRR'S > 0. O e. Neither Project Snor L, since each project's NPV